Join over 94,000 students, learn all you need to know about Bitcoin. One Email a Day, 7 Days in a Row. The following article represents the writer’s personal opinion only and should not be bitcoin value 2020 as investment advice. Can we accurately predict what would be Bitcoin’s price in 2020?
Bitcoin has turned out to be perhaps the hottest investment commodity of all time. Once upon a time you could pickup bitcoins for less than a penny. Still, some people are worried that bitcoin has peaked and that investing now would be like investing in fool’s gold. Mind you, I’m not the only one arguing that bitcoin will rise in price over the coming years.
According to the currently available information and the opinions of other experts, this number appears to be on the cautious side. 650 dollars this year, a reasonable prediction. Of course, nobody knows the future. That’s why it’s important to understand the underlying factors that could cause bitcoin to increase in value in the weeks, months, and years to come. Bitcoin is different from other currencies in that it has been designed from the code up to appreciate in value, rather than depreciate. Understanding what this means is essential for investing in bitcoin.
New Bitcoins Will Continue To Slow If you’re familiar with bitcoin, you probably already know that the supply of all available bitcoins is limited to 21 million. While national governments have a tendency to print new money whenever they feel like it, the supply of new bitcoins entering the market is tightly controlled and ultimately limited. Once 21 million bitcoins are created, no more new bitcoins will ever be issued. Not only is the total number of bitcoins capped, but the supply of new bitcoins entering the market is slowing as bitcoin mining becomes more difficult.